Economy

A food 'apocalypse' will make Russian energy crisis the least of our worries

By David Callaway, Callaway Climate Insights

(David Callaway is founder and Editor-in-Chief of Callaway Climate Insights. He is the former president of the World Editors Forum, Editor-in-Chief of USA Today and MarketWatch, and CEO of TheStreet Inc.)

LONDON (Callaway Climate Insights) — Among the many calls at last week’s Dublin Climate Summit for more wind power and investment in other renewable energies across Europe to combat the Russian oil and gas crunch, there was only one real mention of the threat from the Ukraine war on food and alternative proteins.

But the potential for an “apocalyptic” food crisis exploded on to the front pages of British newspapers this week after the governor of the Bank of England, Andrew Bailey, testified in Parliament of a very real crisis developing because of rising food prices and lack of supplies from Europe’s breadbasket in Ukraine, and Russia.

Bailey was roundly criticized for his choice in words, but while the impact of soaring oil and gas prices have been with us for many months now, the lagging blow of a food crisis is really still yet to come. . . .

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